Xinfengming chairman Zhuang Kuilong turns billionaire after Shanghai IPO

Xinfengming chairman Zhuang Kuilong turns billionaire after Shanghai IPO

100 Yuan notes are seen in this illustration picture in Beijing November 5, 2013. REUTERS/Jason Lee/Files

A revival in China’s polyester industry has produced a new billionaire. Zhuang Kuilong, chairman of textile maker and distributor Xinfengming Group Co., saw his wealth surge almost 60 percent after its shares began trading Tuesday in Shanghai.

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